Vetr Inc. Lowers Exxon Mobil Corp. (XOM) to Hold
Exxon Mobil Corp. (NYSE:XOM) was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday. They currently have a $89.89 target price on the stock. Vetr‘s price objective indicates a potential upside of 2.97% from the stock’s current price.
XOM has been the topic of several other research reports. HSBC set a $91.00 price target on shares of Exxon Mobil Corp. and gave the company a “neutral” rating in a report on Tuesday, October 11th. Exane BNP Paribas initiated coverage on shares of Exxon Mobil Corp. in a report on Monday, October 10th. They issued an “underperform” rating and a $80.00 price target on the stock. Credit Suisse Group AG set a $74.00 price target on shares of Exxon Mobil Corp. and gave the company a “sell” rating in a report on Friday, October 14th. Barclays PLC set a $97.00 price target on shares of Exxon Mobil Corp. and gave the company a “neutral” rating in a report on Monday, October 31st. Finally, Raymond James Financial Inc. reissued an “underperform” rating on shares of Exxon Mobil Corp. in a report on Sunday, October 23rd. Eight research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have issued a buy rating to the stock. Exxon Mobil Corp. presently has an average rating of “Hold” and an average price target of $87.68.
Exxon Mobil Corp. (NYSE:XOM) traded up 1.63% during trading on Wednesday, reaching $87.30. 22,696,209 shares of the company’s stock traded hands. The firm’s 50 day moving average is $85.99 and its 200-day moving average is $88.32. Exxon Mobil Corp. has a 12 month low of $71.55 and a 12 month high of $95.55. The company has a market capitalization of $362.01 billion, a price-to-earnings ratio of 40.87 and a beta of 0.86.
Exxon Mobil Corp. (NYSE:XOM) last announced its quarterly earnings results on Friday, October 28th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.03. The firm had revenue of $58.68 billion for the quarter, compared to analyst estimates of $61.34 billion. Exxon Mobil Corp. had a net margin of 3.98% and a return on equity of 5.04%. The business’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 EPS. Analysts expect that Exxon Mobil Corp. will post $2.24 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Thursday, November 10th will be given a dividend of $0.75 per share. The ex-dividend date is Tuesday, November 8th. This represents a $3.00 dividend on an annualized basis and a yield of 3.44%. Exxon Mobil Corp.’s payout ratio is presently 140.19%.
In other news, VP Robert N. Schleckser sold 5,339 shares of the company’s stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $86.89, for a total value of $463,905.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Neil A. Chapman sold 16,000 shares of the company’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $87.00, for a total value of $1,392,000.00. Following the completion of the sale, the vice president now directly owns 222,299 shares of the company’s stock, valued at $19,340,013. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Thomas J. Herzfeld Advisors Inc. boosted its stake in shares of Exxon Mobil Corp. by 166.5% in the second quarter. Thomas J. Herzfeld Advisors Inc. now owns 1,106 shares of the company’s stock worth $104,000 after buying an additional 691 shares during the period. Equitec Proprietary Markets LLC bought a new stake in shares of Exxon Mobil Corp. during the third quarter worth approximately $107,000. Tuttle Tactical Management LLC bought a new stake in shares of Exxon Mobil Corp. during the second quarter worth approximately $125,000. Horan Securities Inc. bought a new stake in shares of Exxon Mobil Corp. during the third quarter worth approximately $137,000. Finally, BKS Advisors LLC bought a new stake in shares of Exxon Mobil Corp. during the third quarter worth approximately $142,000. 50.06% of the stock is owned by institutional investors.
Exxon Mobil Corp. Company Profile
Exxon Mobil Corporation is an energy company. The Company is engaged in the exploration and production of crude oil and natural gas, manufacturing of petroleum products, and transportation and sale of crude oil, natural gas and petroleum products. The Company also manufactures and markets petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and various specialty products.
To view Vetr’s full report, visit Vetr’s official website.
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